Featured Product

    OCC Proposes to Amend Stress Test Reporting Requirements for Banks

    OCC is proposing to revise the regulatory reporting requirements for stress testing of national banks and federal savings associations. The related information collection is called the Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions with Total Consolidated Assets of USD 250 Billion or More under the Dodd-Frank Act. OCC recognizes that FED has modified its reporting form FR Y-14A and OCC has kept its reporting requirements consistent with the FED's FR Y-14A to minimize burden on covered institutions. Therefore, OCC is revising its reporting requirements to mirror the FR Y-14A report of FED for covered institutions with total consolidated assets of USD 250 billion or more. OCC is also giving notice that it has sent the collection to OMB for review. Comments on the proposal must be received by March 02, 2020.

    The changes include updates to various schedules to reflect the current expected credit loss (CECL) accounting methodology. These changes accommodate covered institutions that have adopted CECL by the reporting date and those that have not yet adopted CECL by the reporting date. The changes include a collection of supplemental CECL information. The changes also include items not related to CECL adoption. The purpose of these changes is to keep the reporting forms in line with changes in the Consolidated Reports of Condition and Income (Call Report) as well as to provide further clarity or alignment of the instructions with the XML reporting files. There are also changes that require information to be reported at a different level of granularity. In October 2019, OCC had published a notice requesting comments for this information collection. The comment period for the October 2019 consultation ended in December 2019 and OCC had received no comments on the notice. OCC is now giving notice that it has sent the collection to OMB for review.

     

    Related Links

    Comment Due Date: March 02, 2020

    Keywords: Americas, US, Banking, Stress testing, Dodd-Frank Act, FR Y-14, CECL, Reporting, CCAR, DFAST 14A, FED, OCC

    Featured Experts
    Related Articles
    News

    BCBS Amends Guidelines on Sound Management of AML/CFT Risks

    BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).

    July 02, 2020 WebPage Regulatory News
    News

    EBA Guidelines on Treatment of Structural Foreign Exchange Under CRR

    EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).

    July 01, 2020 WebPage Regulatory News
    News

    FSB Issues Statement on Impact of COVID-19 Crisis on Benchmark Reform

    FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS Publishes List of Internationally Active Insurance Groups

    IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.

    July 01, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-9C With Respect to PPPLF and CARES Act

    FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).

    July 01, 2020 WebPage Regulatory News
    News

    EC Launches Consultation on Review of Solvency II Directive

    EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.

    July 01, 2020 WebPage Regulatory News
    News

    ECB Consults on Supervisory Approach to Consolidation in Banking

    ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.

    July 01, 2020 WebPage Regulatory News
    News

    PRA Letter Sets Expectations on Approach to Managing Climate Risks

    PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.

    July 01, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Amendments to Swap Margin Rule

    US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.

    July 01, 2020 WebPage Regulatory News
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5425